Will $SHIB ever reach $1 or 1 cent ($0.01)?

 Bombolo | News and Media

Will $SHIB ever reach $1 or 1 cent ($0.01)? Bombolo | News and Media

$SHIB is one of the top most popular cryptocurrencies in the world with a current circulating supply of 549T tokens. The project has immense potential and a strong future ahead. Not to forget, the coin has already yield millions of dollars in profit in Oct 2021 and has the potential to do so again.

 

Many investors wonder if the $SHIB price can ever reach $1 or 1 cent ($0.01) in this lifetime. Well the simplest answer to this is NO. Definitely not at this rate.

However, it needs to be understood that $SHIB doesn't need to reach $1 or 1 cent to yield billions in profit.

Why $SHIB price can never reach $1 or 1 cent ($0.01)

The current circulating token of SHIB is 549T. With these number of tokens, $SHIB will need a market cap of $549T to reach a price of $1.

Now, many could argue that SHIB is constantly burning millions of tokens everyday which would subsequently lower the circulating token figures. So lets address to that!

SHIB Burning Calculations

The current burning rate of SHIB is 30M to 100M tokens per day. At this rate, SHIB can burn 100M x 365= 36.6B tokens in 1 year.
Lets be positive and assume the burn rate increases my 2x or 3x in the coming future, so the burn rate sums to 100B tokens per Year. 
At this rate, in 100 years SHIB can burn 100B x 100 = 10T tokens only!
Meaning, at this rate after 100 years (with insanely positive assumptions) SHIB will only burn ONLY 10T tokens from its 549T tokens i.e the circulating supply of SHIB will become 549T-10T=539T tokens after 100 Years.

How much daily Burns SHIB needs to Reach $1 in 10 years

Assuming SHIB can easily achieve a market cap of $49B within 10 years (3650Days), SHIB must remove 500T tokens from its 549T current supply to achieve a price of $1 in 10 years. Meaning SHIB must burn 500T/3650 = 137 Billion tokens per day. This figure is approximately 10000 times more than the current burning rate.